February 26, 2019
A popular explanation for economic scandals, crises and suboptimal market outcomes is the lack of government regulation. This interpretation is intensively promoted by the promoters of a “bridled” market and by the communication departments of the respective administrations: only the supervision and control of the market economy by the bureaucratic state would ensure the integrity of economic actors. This would even apply to competition, which would allegedly be endangered without a dedicated authority.
